EQUITIES
Shares in Asia-Pacific traded mixed on Monday. Over in South Korea, the KOSPI gained 1.26%, leading gains in the region. The Nikkei 225 in Japan rose 0.13%, the Straits Times index in Singapore added 0.26%, and the Shanghai composite in the mainland China advanced 0.65%.
Elsewhere, the Hang Seng index in Hong Kong dipped 0.46%, Australian S &P/ASX 200 fell 0.59%, and S&P BSE Sensex in India shed 1.13%.
Growing anxiety over surging COVID-19 infections in Europe expected to weigh on European market’s opening today.
OIL
Crude oil extending declines to seven-week lows on Monday, over demand from a worsening COVID-19 situation in Europe, and on concerns about excess supply after Japan said it was weighing releasing oil reserves.
The Brent now traded at $78.76 per barrel, and U.S. crude futures traded at $75.92 per barrel.
On Friday last week, the Brent ends at $78.89 a barrel, and the WTI settled at $75.94 per barrel.
CURRENCIES
Hawkish comments from several U.S. central bankers aided the dollar. Federal Reserve officials Richard Clarida and Christopher Waller on Friday suggested that a faster pace of stimulus tapering may be appropriate amid a quickening recovery and heated inflation.
The dollar index traded at 96.114, staying within sight of last week's 16-month high of 96.266. And in the U.S. Treasury market, the benchmark 10-year notes were last at 1.569%.
The greenback was also stronger against commodity-linked currencies such as Australian and Canadian dollars, on slump in crude oil.
China on Monday kept the one-year Loan Prime Rate (LPR) unchanged at 3.85%. The five-year LPR was also left steady at 4.65%.
GOLD
Gold prices held steady on Monday. Spot gold rose 0.15% to $1,847.70 per ounce, and U.S. gold futures slipped 0.11% to $1,849.50.
Spot silver was down 0.08% to $24.76 per ounce. Platinum rose 0.22% to $1,038.30, and palladium shed 0.37% to $2,065.50.
ECONOMIC OUTLOOK
Stock markets fell on Monday, after a resurgence of COVID-19 cases across Europe stoked demand fears and hurt risk appetite.
Broader investor sentiment was hit as Europe has again become the epicentre of the pandemic, accounting for half of global cases and deaths. Austria reimposing a full lockdown to deal with rising COVID-19 cases from Monday, while Germany considering following suit.
Worries that a slowdown in Europe could hit energy demand consequently dented crude oil, which was also in retreat over the prospect of a U.S.-led release of emergency stockpiles.
Wednesday will yield a large number of economic reports as the Thanksgiving holiday approached. The economic calendar includes updates on existing home sales, durable goods, the PMI composite, GDP as well what will a closely-watched release of FOMC minutes from the last central bank meeting.
